Three of India’s most industrialised states plan to import 10.5 million tonnes of coal in coming months as officials scramble to arrest widespread power cuts, a move that could push global coal prices to new highs.
The scale of the purchases and the decision to go back on a plan to cut coal imports underscore the severity of the India’s fuel crisis. Utilities’ coal inventories are at the lowest pre-summer levels in at least nine years and electricity demand is seen rising at the fastest pace in at least 38 years.
Maharashtra plans to import 8 million tonnes for “blending purposes,” while Gujarat will place orders for 1 million tonnes next week,
